Capital gain on shares received from father as gift

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

01 September 2013 Dear Sir,
I Mr.Paresh Doshi want to know that,
I have received shares from my father as gift due to my father is dead.

I want to know that short term/long term capital gain arise on holding of shares if i will transfer to my accout. recently the share is on my fathers name.

Any Income on dividend is taxable for me?
Any short term or long term capital gain applicable for liability of tax.

how it can work out?

Thanks
Paresh Doshi
Mo.9725158864
Email : pbdoshi2011@gmail.com

CA LOKESH KASAT, FCA, M.Com

CA LOKESH KASAT, FCA, M.Com (Expert)
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01 September 2013 Dear paresh, gift received from father is not taxable. Further your holding period of share will start from the day when your father purchased share and if it is more than 12 month than only long term
dividend income shall be exempt, no need to worry, you just apply in company for transmission